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Buy Bajaj Finserv; target of Rs 20000: ICICI Direct

ICICI Direct is bullish on Bajaj Finserv recommended buy rating on the stock with a target price of Rs 20000 in its research report dated January 24, 2022.

January 31, 2022 / 12:17 PM IST
 
 
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ICICI Direct's research report on Bajaj Finserv


Bajaj Finserv (Finserv) is a financial conglomerate with a holding in the financing business (Bajaj Finance), life insurance (Bajaj Life Insurance) and general insurance (Bajaj General Insurance) business. • Consistent, faster business growth and profitability remains in focus.


Outlook


We maintain our BUY rating on the stock. Rolling valuation to FY24E and increasing discount to 15%, we value Finserv at ~39x FY24E EPS and assign target price at Rs 20000/ share.

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At 17:30 Bajaj Finserv was quoting at Rs 15,200.00, down Rs 160.55, or 1.05 percent.

It has touched an intraday high of Rs 15,780.00 and an intraday low of Rs 15,141.55.

It was trading with volumes of 14,853 shares, compared to its thirty day average of 12,523 shares, an increase of 18.61 percent.

In the previous trading session, the share closed down 1.07 percent or Rs 165.80 at Rs 15,360.55.

The share touched its 52-week high Rs 19,319.95 and 52-week low Rs 8,636.80 on 19 October, 2021 and 01 February, 2021, respectively.

Currently, it is trading 21.32 percent below its 52-week high and 75.99 percent above its 52-week low.

Market capitalisation stands at Rs 241,888.91 crore.

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first published: Jan 31, 2022 12:17 pm
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